JSW Infrastructure IPO subscribed 38%, retail portion fully subscribed

25 Sep 2023 , 04:46 PM

As of its debut on September 25, the public issue of JSW Infrastructure has garnered a subscription rate of 38%. This interest has resulted in bids for 5,25,70,980 crore equity shares against the initial public offering (IPO) size of 13.62 crores. Click here to subscribed the IPO.

Notably, all categories of investors have actively participated in this IPO, marking the first public issue by a JSW Group company in the past 13 years. Retail investors, in particular, have shown strong interest, subscribing to 1.32 times the allotted quota, while high net-worth individuals (HNIs) have subscribed to 0.53 times the available shares.

Qualified institutional buyers (QIBs) have subscribed for 0.13% of the shares reserved for them, which accounts for 75% of the total offer size. HNIs have access to 15% of the issue, and the remaining 10% is allocated for retail investors.

JSW Infrastructure, a company engaged in port-related infrastructure services, aims to raise Rs 2,800 crore through this IPO. The price band for the shares is set at Rs 113-119 per share. It’s worth noting that the entire IPO consists of a fresh issue component, meaning that all the proceeds will be utilized for the company’s further development.

The public issue of JSW Infrastructure will conclude on September 27.

In terms of financial performance, the company has demonstrated impressive growth. Its revenue from operations has achieved a Compound Annual Growth Rate (CAGR) of 41.15% during the period from FY21 to FY23. Additionally, its profit after tax has recorded a substantial CAGR of 62.28% over the same period, indicating robust financial performance.